natalie2sheffield
24.08.2021 •
Business
asha invests $5,000 at 6% annual interest and an additional $5,000 at 8% annual interest. Thomas invests $10,000 at 7% annual interest. Which statement accurately compares Tasha’s and Thomas’s investments if interest is compounded annually? Compound interest formula: V (t) = P (1 + StartFraction r Over n EndFraction) Superscript n t t = years since initial deposit n = number of times compounded per year r = annual interest rate (as a decimal) P = initial (principal) investment V(t) = value of investment after t years
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